Egypt’s Minister of International Cooperation Rania Al-Mashat has held a virtual meeting with Claudia Farning, Director General of the German Federal Ministry for Economic Cooperation and Development.
During the meeting, the two sides discussed the development financing priorities for the coming period, and the launch of the third tranche of the debt swap programme for development.
The German Parliament recently approved the provision of the third tranche, worth a total of €80m, and focuses on projects related to technical and vocational education and supporting job creation, Minister Al-Mashat said.
The Minister and Farning also reviewed the €70m worth of projects that are underway as part of the programme’s first phase. They looked over the implementation of the projects agreed upon within the framework of the first and second tranches of the second phase, which are worth €90m. These target several sectors, including education, clean water and sanitation, energy, infrastructure, and promoting employment.
Minister Al-Mashat affirmed that her Ministry is committed to expanding debt swap programmes to reduce Egypt’s foreign debt. This will take place through using these debts to finance development initiatives and achieve the UN’s Sustainable Development Goals (SDGs).
Specifically, it targets 17.4 of Goal 17 for Partnerships for the Goals, related to assisting developing countries in attaining long-term debt sustainability.
The minister added that the bilateral cooperation between Egypt and Germany covers a multi-sectoral array of projects in many vital areas, including: renewable energy; energy efficiency; irrigation; water resources; improving sanitation; solid waste management; and supporting the private sector.
The two countries will also discuss the procedures for signing the Memorandum of Understanding (MoU) for the Middle East and North Africa (MENA) region to support the private sector. This will see a grant worth €3m awarded, in partnership with Egypt’s Ministry of Trade and Industry.
It was also agreed for regular meetings to be held to monitor the developments related to Egyptian-German cooperation. This is particularly in regards to the status of ongoing projects and the Egyptian-German debt swap programme.
Minister Al-Mashat said that her Ministry seeks to push the frontiers of international cooperation through economic diplomacy. This takes place according to three principles, the first of which is the regular occurrence of multi-stakeholder platforms to ensure that all projects between development partners are streamlined and effectively coordinated.
This is to accelerate the pace of development for the achievement of the UN’s Sustainable Development Goals (SDGs). The second principle is the adoption of a consistent Global Partnerships Narrative People&Projects&Purpose (P&P&P). The third principle is the mapping of ODA financing for the SDGs in all projects with multilateral and bilateral development partners.
Farning praised the development cooperation programmes implemented with Egypt, and the opening of the Egyptian German Center for Jobs, Migration and Reintegration.
The centre aims to enhance opportunities for safe migration, and provide job opportunities to curb illegal immigration. Farning made note of Germany’s keenness to support the Egyptian Government’s development efforts.
In November 2020, the Egyptian German Center for Jobs, Migration and Reintegration was launched, with a total budget of €2m. It was launched as part of the cooperation between the Egyptian government, represented by the Ministry of International Cooperation, the Ministry of Immigration and Egyptian Expatriates Affairs, and the Ministry of Foreign Affairs, and the German government.
The centre helps to promote safe and orderly migration opportunities for Egyptian youth, and provides job opportunities to curb illegal migration. It also provides aid for Egyptians abroad to integrate into society, by providing the necessary social and economic services.
Egypt’s Ministry of International Cooperation recently held an expert-level meeting with the German Federal Ministry for Economic Cooperation and Development. The meeting took place with the participation of representatives of the relevant Egyptian ministries and authorities, and German governmental and development institutions.
During the meeting, it was agreed that development financing worth €132.8m will be dedicated to finance 11 new projects that will promote technical and vocational education. The projects also aim to enhance community participation, and invest in job creation through supporting the private sector.
The current cooperation portfolio between Egypt and Germany amounts to $956.8m, across several sectors including water sanitation, small- and medium-sized enterprises (SMEs), the environment, and clean energy.
